Binance CEO Changpeng Zhao is ready to work closely with global regulators to become a licensed financial institution, according to his tweets.
(Thread) We just hosted a 1-hour press conference to share the active steps we’re taking to build upon our efforts to be more compliant with local regulations everywhere.— CZ 🔶 Binance (@cz_binance) July 27, 2021
I’d like to share these updates with you now too.
- The tweets by Zhao come amid warnings by regulators against Binance, with the crypto exchange already banned from the UK.
- The US is also investigating Binance over alleged illegal activity.
- Zhao says Binance is keen on remaining compliant and working things around the current tide.
- The crypto exchange’s CEO says Binance will have regional hubs rather than a common headquarter to give regulators a structure they can easily understand.
- The CEO says Binance is already in the queue of getting approvals and licenses in jurisdictions with an established legal framework for crypto exchanges.
Zhao is optimistic of creating a sustainable ecosystem of blockchain technology, and is already seeking to fill roles in leadership with individuals having compliance and regulatory experience.